Chief executive Chavinda Hanratanakool said the new assets will be accumulated from investment in short-term fixed income, property and infrastructure funds.
The firm's AUM as of
Investment in mutual funds gained
If the company achieves its AUM target this year, its total AUM would be
KTAM plans to boost AUM growth by launching a property fund and an infrastructure fund. The combined value of the funds would be
"We also plan to expand KTPLUS, the global and local short-term fixed income fund, from
The company will team up with parent
Chief investment officer Veera Vutthikongsirigool said investor confidence has been gradually restored after the coup, as the junta's focus has clearly been on the reviving the economy in the short term.
"The speed of rice pledging payments and plans for the accelerating fiscal budget disbursements and the infrastructure investment scheme have helped build confidence," said
KTAM cut its export growth projection to 3.5% this year, down from 6%, while its GDP growth outlook is 1.1% this year and 5.2% next year. It expects interest rates will stay at 2% until mid-2015.
He said the base SET target for the next 12 months is 1,580 points assuming the economy follows its model, with the SET rising to 1,680 points in 2015 with a price-to-earnings ratio of 15 times.
"We still overweight the Thai shares market because we believe the economy will recover rapidly, with potential growth sectors banking, property and construction, while we underweight energy and petrochemicals as the pricing upside is less than the market average," he said.
(c)2014 the Bangkok Post (Bangkok, Thailand)
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